On Wednesday, the shares of Dynamic Cables Ltd were trading up by 1.5% till 12 pm and were trading at Rs 142 levels. The stock has been rallying for the last few days and added more than 19%.
A year ago, the stock was trading at Rs 47 a piece. From there it has escalated to the current levels giving a multibagger return of 197.07% to its shareholders. So far this year in 2022, the stock price has zoomed by 61.73% YTD.
The multibagger stock is all set to start trading on the National Stock exchange (NSE) from today i.e, Wednesday, July 27th, 2022. The ticker for the stock will be “DYCL”.
On the news, the stock started appreciating and almost reached near the levels of its one-year high. The stock reached its 52-week high of Rs 154 in February this year.
The company was listed on the BSE SME Exchange through its Initial Public Offering (IPO) in December 2017. It moved up to the main board in October 2020.
Commenting on the listing, Ashish Mangal, Managing Director of Dynamic Cables Limited said, “Today marks an important milestone in the journey of Dynamic Cables Limited and is a reflection of our performance over the years and will go a long way in enhancing investors’ confidence.”
The financials of the company are also improving as it reported total revenue of Rs 563 crores in FY22 compared to Rs 342 Crores which it earned a year ago. Their net profit also jumped to Rs 30 Crores up from Rs 9 Crores in FY21.
Dynamic Cables Ltd (DCL), a Jaipur-based wire and cables manufacturer. It supplies cables to Government Discom, Private Distribution companies, Private EPC contractors, and industrial and Export clients.
The small-cap stock has a market capitalization of Rs 310 Crores. The promoters of the company hold a 74.36% stake in the company.
Written by – Anoushka Roy
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